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Tata AIA Life Insurance MahaLife Gold Plus Plan

What is the Plan all About?

Tata AIA Life Insurance MahaLife Gold Plus is a limited premium, non-linked participating whole life plan that provides guaranteed returns on maturity. This plan also provides financial protection to the family, in case of your unfortunate death.


What are the Key Features?

  • Lifelong coverage till 85 years of age
  • Added protection through Inflation Protection Cover
  • Lump sum amount at maturity
  • Regular income for a long period
  • Guaranteed Annual Coupons
  • Annual Non Guaranteed Cash Dividends
  • Boost protection through rider
  • Get policy loan
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the insured prior maturity of the policy, Sum Assured on death plus additional percentage of Basic Sum Assured as applicable. The death benefit payable is subject to a minimum of 105% of all the premiums paid, till the date of death.

    With inflation protection cover, an additional 15%/30%/45% of basic sum assured is payable when unfortunate death happens during 15th to 20th policy year/30th to 44th/45th policy year to maturity, respectively.

    Sum Assured on Death is higher of Minimum Guaranteed Sum Assured on maturity or 10 times of Annualized Premium. The Policy terminates on the death of the insured and no other benefit will then be payable.

Maturity Benefit

    On survival of the life Insured till the end of the policy term, Minimum Guaranteed Sum Assured on maturity along with last Guaranteed Annual Coupon and last Non-Guaranteed Cash Dividend is payable.

Guaranteed Annual Coupons

    Guaranteed Annual Coupons are payable at every policy anniversary and it starts from the 10th policy anniversary till 30th policy anniversary or till death of the insured, whichever is earlier.

    Guaranteed Annual Coupon Rate is Rs 55/60/65 (per Rs 1000 of basic sum assured) when basic sum assured is less than Rs 5,00,000/Rs 5,00,000 to 9,99,999/Rs 10,00,000 and above, respectively.

Non Guaranteed Cash Dividends

    Non Guaranteed Cash Dividends are paid annually from the 6th policy anniversary onwards. These dividends are paid till the maturity or death, whichever is earlier provided the policy is in force.

Loan Benefit

    Policy Loan is available for Tata AIA Life Insurance MahaLife Gold Plus.

Surrender Value

    Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of all the due premiums for the first full policy year.

Tax Benefit

    The premiums paid can avail tax benefits under section 80C and the policy proceeds are also eligible for tax benefits under section 10 (10D) of the Income Tax Act, subject to prevailing tax laws.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 30 Days 55 Years
Age at Maturity - 85 Years
Policy Tenure 85 Years Minus Age At Entry -
Premium Paying Term 15 Years -
Premium Paying Mode Annually, Semi Annually & Monthly -
Basic Sum Assured Rs 2 Lacs No Limit (subject To Underwriting)
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) (ADDL) Rider can be opted, on payment of additional rider premium.

How the Plan Works?

Raman at 35 years, wants to buy Tata AIA Life Insurance MahaLife Gold Plus to gain control over savings and protection. He opts the plan with the basic sum assured of Rs 5 Lacs, premium paying term of 15 years and the annual premium is Rs 70,105.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Rs 5 Lacs along with last Guaranteed Annual Coupon and last Non-Guaranteed Cash Dividend. The maturity amount helps fulfill the financial obligations.

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during any policy year, the nominee will receive Rs 5 Lacs plus additional percentage of Basic Sum Assured as applicable. The death benefit payable, thus provides financial cover for the family.

Benefit Illustration:

Tata AIA Life Insurance MahaLife Gold Plus Benefit Illustration